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4-Traders Homepage  >  Equities  >  Nasdaq  >  Cypress Semiconductor Corporation    CY

CYPRESS SEMICONDUCTOR CORPORATION (CY)
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Cypress Semiconductor Corporation : U.S. Patent and Trademark Office Confirms Cypress SRAM Patent Asserted in Cypress's ITC Action Against GSI Technology

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05/03/2012 | 02:40pm CET

Cypress Semiconductor Corp. (Nasdaq: CY) today announced that the U.S. Patent and Trademark Office (PTO) has completed its re-examination of Cypress's U.S. Patent No. 7,142,477 and confirmed its validity. In particular, the PTO confirmed without amendment both of the claims being asserted by Cypress in the International Trade Commission's (ITC) patent infringement case against GSI Technology Inc., and allowed 64 new claims added by Cypress during the re-examination.

"The Patent and Trademark Office's re-examination review was exhaustive," said Dana Nazarian, executive vice president of Cypress's Memory Products Division. "The '477 patent was re-examined in light of all of the prior art submitted by GSI in its re-examination request, as well as prior art used by GSI in its defense of the ITC investigation. The PTO ruling confirms what we've known all along - that the '477 patent is rock-solid.

"In a November 2011 press release, Lee-Lean Shu, the CEO of GSI, said 'we are confident that completion of the re-examination will result in a final rejection of these claims,'" Nazarian continued. "The PTO not only reaffirmed the '477 patent, it allowed 64 new claims. It is now clear that Mr. Shu's prediction about the '477 patent was wrong."

In June 2011, Cypress filed a complaint with the ITC alleging that GSI's SigmaQuad-II™, SigmaQuad-III™ and SigmaDDR™ SRAM families infringe four Cypress SRAM patents. The case was later expanded to include GSI's standard synchronous and ZBT SRAMs, as well as a proprietary product made by GSI for its largest customer. The complaint seeks an exclusion order from the ITC that would prevent the importation of all infringing GSI SRAMs. The trial has been completed, and the ITC is expected to rule on this case in late July.

About Cypress

Cypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the flagship PSoC® 1, PSoC 3 and PSoC 5 programmable system-on-chip families and derivatives, and CapSense® touch sensing and TrueTouch® solutions for touchscreens. Cypress is the world leader in USB controllers, including the high-performance West Bridge® solution that enhances connectivity and performance in multimedia handsets, PCs and tablets. Cypress is also the world leader in SRAM memories. Cypress serves numerous markets including consumer, mobile handsets, computation, data communications, automotive, industrial and military. Cypress trades on the Nasdaq Global Select Market under the ticker symbol CY. Visit Cypress online at www.cypress.com.

Cypress and the Cypress logo, PSoC, CapSense, TrueTouch and West Bridge are registered trademarks of Cypress Semiconductor Corp. All other trademarks are property of their owners.

Cypress Semiconductor Corp.
Joe McCarthy, 408-943-2902
Corporate Communications
[email protected]


© Business Wire 2012
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Financials ($)
Sales 2018 2 494 M
EBIT 2018 531 M
Net income 2018 223 M
Debt 2018 541 M
Yield 2018 2,09%
P/E ratio 2018 29,49
P/E ratio 2019 23,60
EV / Sales 2018 2,47x
EV / Sales 2019 2,24x
Capitalization 5 622 M
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Average target price 20,2 $
Spread / Average Target 20%
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Managers
NameTitle
Hassane El-Khoury President, Chief Executive Officer & Director
W. Steve Albrecht Chairman
Dana C. Nazarian Executive Vice President-Operations & Technology
Sam Thad Trent Chief Financial Officer & EVP-Administration
J. Augusto de Oliveira Chief Technical Officer & Executive Vice President
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